Dr. Dre is an American producer, rapper, entrepreneur, and actor, with an estimated net worth of $750 million.
Dr Dre Net Worth: Brief History
Born Andre Romelle, Dre spent all his childhood life in South Central, Los Angeles during the nascent stages of West Coast hip-hop. He started visiting night clubs during his teen, where he learned to deejay. He shortly after joined an electro-hop group going by the name The World Class Wreckin’ Cru, in 1984. Later on hooked with other rappers upon meeting Ice Cube and together they formed project NWA, headed by rapper Eazy-E. The group went ahead to release their debut album, “Straight Outta Compton”, which was certified double platinum in due course.
Dr Dre Net Worth: Music Breakthrough
Three years down the line, we have Dre hooking up with Suge Knight to co-found Death Row Records and thereafter releasing his first solo album that would eventually be certified multi-platinum after rising to position 3 on Billboard 200. The album also won him the first Grammy, with the single “Let Me Ride,” in the Best Rap Performance Category.
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Dr Dre Net Worth: Other Sources
Forbes ranks him second on their 2015 list of the wealthiest hip-hop artists, close to Sean Combs (P-Diddy), in the first place, and Jay Z, in the third place. As with the rest of the rappers on the list, Dre’s wealth is partly chained with his successful music career and, in greater part, with the numerous business ventures that he has outside music.
A greater bulk of Dr. Dre’s wealth comes from the sale of Beats Electronics, a headphone speaker company he co-founded in 2008 alongside his longtime friend and partner, Jimmy Lovine. They sold the company to Apple at $3 billion, out of which Dre went home with $400 million, ballpark.
For a casual observer who can’t do the math, a good portion of the money went to some of the key players actively involved with the success of the company. Lebron James is believed to be one of them, with a huge percentage going to Universal Music Group for featuring the headphone on almost every music video produced by Interscope.
Besides music and business, Dr Dre’s success also extends to film. He’s appeared in some of the 90’s blockbusters including “Training Day”, “Set it Off”. Dre is also the producer behind the recently released blockbuster, “Straight Outta Compton,” based on NWA rap group true story. He also had an acting role in the movie
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Dr Dre Net Worth: A Breakdown of His Wealth
In retrospect, his toll road to wealth began in 2011 when he sold part of his Aftermath shares for $52 million to Interscope. This, together with the accumulative amount he had earned from his album projects placed him in the 44th place in the richest musician’s list. At the time, the richest person was estimated to have a net worth of $270 million. Later the same year, he was involved in a number of projects that sky-rocketed his wealth to a whooping $110 million.
By 2011, Dr. Dre’s wealth had shot to $250 million, with the bulk of it emanating from his active involvement with Beats Electronics. Later the same year, HTC paid the company $300 million dollars for a 51% stake. Dre took with him $85 million, raising his net worth to an estimated $335 million.
He beat Jay Z in 2014 to become the second richest rapper with an estimated net worth of $550 million, holding the second place after Sean Combs who has been holding the number one position for quite some time.
Dre’s third studio album, Compton (2015), was certified silver in the UK. The album sold 276, 000 copies within its first week of release, remaining in the chart’s top ten for a number of weeks. This, altogether with the amount he made from the sale of Beats electronics brings his current net worth to an estimated $700 million.
Besides making oodles of money both in and outside music, Dre is known to be an incredibly generous man. In May 2013, he donated $70 million to Academy of Arts, Technology and Innovation Business and to the University of South California.
Dr Dre’s Woes
Dre’s life hasn’t been all that smooth. In 1990, he was sued by Porter in Orange County Superior Court for Child support, which required him to pay $5000 every month. In February 1992, he faced another trial, filed by Dee Barnes, a Fox TV host. He was sentenced to a 24 hours community service and $2500 fine with 2 years of probation. In 2013, his earnings nose-dived when he only managed to earn $40 million from his music and other ventures.